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What is A Civil Court Bond?
Civil court bonds, also known as judicial court bonds, are bonds that are required in a civil court action and can usually be split into two separate categories. These two categories are Plaintiffs Bonds and Defendants Bonds. A civil court bond is usually required when one or both parties are seeing leal relief or compensation from the other party.
This type of civil court bond ensures that any damages suffered will be paid out by the plaintiff if the court rules in favor of the defendant. Plaintiff bonds include but are not limited to:
- Attachment Bonds
- Injunction Bonds
- Replevin Bonds
- Appeal Bond
- Claim and Delivery Bonds
- Indemnity to Sheriff Bonds
Often times called defendants appeal bonds, these court bonds are usually required when a monetary judgment is awarded and the losing party wishes to appeal the court’s decision. The defendant bond will act in place of the required payment while the defendant files a motion to appeal the decision. Some other types of defendant bonds include but are not limited to:
- Supersedeas Bond
- Appeal Bond
- Counter-Replevin Bond
- Transfer of Lien Bond
- Dissolve Injunction Bond
- Release Attachment Bond
FAQs About Civil Court Bonds
Who Needs a Civil Court Bond?If a person is involved in a lawsuit, they may be required to obtain a civil court bond. A court bond is a type of guarantee that ensures the defendant or the plaintiff will follow through with any obligations as decided upon in a court ruling.
Who are the 3 Parties in a Court Bond?A civil court bond is an agreement between 3 parties, the Principal, the Surety, and the Obligee. In this case, the Obligee is the court (who is requiring the bond) and the Principal is the defendant or the plaintiff in the lawsuit.
What is the cost of a civil court bond?Court bonds are usually considered high-risk bonds compared to other bond types, which will often require higher premiums and stricter terms for the principal applying for the bond. Civil court bonds can range from 1% to 10%+ of the total amount in the lawsuit, depending on the principal's personal credit, financial history, and financial stability. Also, depending on the amount needed for bond coverage, the surety may require collateral in order to help mitigate some of the risk associated with underwriting the civil court bond.
How is a civil court bond obtained?Because this is a higher risk bond type, the surety will sometimes require extra steps in the approval process. As with any bond, you will be required to fill out the appropriate bond application form and submit any documentation to the surety for the approval process. Not only will a credit check be run, but collateral may be required as well in order for the surety to underwrite the bond and lower their risk of working with a high-risk client. All documents must be submitted upon the sureties request, otherwise, approval is unlikely.
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Because of our industry knowledge and expertise coupled with our ever-increasing specialty programs, we have the unique ability to write your bonds when no one else can, and because of our relationship with you, we will stand behind you in support to achieve your agency or business objectives. We know how difficult civil court bonds can be to obtain, which is why we have created partnerships with A-rated sureties across the nation to make sure that our clients get the coverage needed.
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No matter the size of the bond or how complicated, Surety Place is built to find an answer. Poor credit, financial hardship, fast growth, or just getting your company off the ground? We have options for you too.
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